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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
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